China’s big growth target won’t solve its six big problems
China’s GDP growth target for 2024 is probably unrealistic, but it’s the lack of concrete stimulus plans that should worry investors and economists. There’s nothing here to solve Xi’s big problems.
It was former Treasury secretary Ken Henry who memorably declared during the global financial crisis that the best way to stimulate an ailing economy was to go hard, go early and go directly to the household.
Once again, China has missed its chance to do exactly that.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
